The National Review Repackages 'Trickle-Down' Once More

Our old friend, Clio, Muse of History, also known by her Marvel superhero name The Proclaimer (!), sent along a Boodles-scented note on Wednesday. We were momentarily distracted by the three broken oxycodone pills that fell out of the envelope, but we recovered in time to read Clio's request from another one of the favorites here at the shebeen – Sub-Left'Nant Blimp of the National Review.

Contrary to the fevered imagination of the exasperated American Left, conservative candidates for public office do not tend to take a free-market approach to fiscal policy because it helps "the rich," but because they believe in earnest that it helps the whole country.

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Hmm, interesting theory, perhaps we should subscribe to this chap's newsletter. (He actually addresses us all as "chaps" in this piece later on. Pip-pip and tallywhack, old spud!) What does our gal Clio think of it?

"Kemp-Roth [the 1981 tax cut that was the seed pearl for Reaganomics was always a Trojan horse to bring down the top rate." A Trojan horse? This seemed a cynical concession for Stockman to make in private conversation while the Reagan Administration was still selling the supply-side doctrine to Congress... "It's kind of hard to sell 'trickle down,'" [Stockman] explained, "so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory..."

This is a bluff that the Libidinous Visitor really is calling them on. He knows how well he made out from supply-side, Laffer curve economics. Now, he's tormenting them with it. It's hilarious, is all it is.